TIronNet $IRNT, The cybersecurity that joined Microsoft’s Intelligent Security Association and jumped 58%

Summary

  • Cybersecurity company IronNet Inc (NYSE: IRNT) went up 58% after some exciting news that it has joined the Microsoft (NASDAQ: MSFT) Intelligent Security Association (MISA). However, there was some chatter in social media about a short squeeze.
  • The stock is currently trading at $16.34 after being on $10.30 before the announcement.
  • “As we continue to see an increase in malicious cyberattacks against both the public and private sectors, we are pleased to join the Microsoft Intelligent Security Association to advance how we defend together,” said IronNet Founder and Co-CEO, Keith Alexander.

Cybersecurity company IronNet Inc (NYSE: IRNT) went up 58% after some exciting news that it has joined the Microsoft (NASDAQ: MSFT) Intelligent Security Association (MISA). However, there was some chatter in social media about a short squeeze.

 

About IronNet Inc

 

IronNet is an innovative leader transforming cybersecurity through Collective Defense. The company was founded in 2014 and is based in Virginia, U.S. 

 

IronNet’s platform has the most advanced network detection for unknown cyber threats and a system for real-time threat intelligence sharing within its IronDome solution. The platform provides possible incoming attacks in the form of radar-like view. This capability has become very critical for rapidly detecting and mitigating advanced persistent threat attacks, where many companies are forced to defend against nation-state-level cyber capabilities.

 

What is MISA

 

The Microsoft Intelligent Security Association is a nomination-only association of independent software vendors and managed security service providers that have integrated their solutions to defend against cyberattacks.

 

It was formed in 2018 to provide a space for top cybersecurity companies in order to collaborate and further enhance and integrate their technologies on the most used Microsoft platforms. 

 

“As we continue to see an increase in malicious cyberattacks against both the public and private sectors, we are pleased to join the Microsoft Intelligent Security Association to advance how we defend together,” said IronNet Founder and Co-CEO, Keith Alexander.

About $IRNT

The stock gained 58% while trading on Wednesday and after the announcement. The stock is currently trading at $16.34 after being on $10.30 before the announcement. However, as you can notice from the chart its highest high was in September two weeks before it announced its recognition as the “Overall Advanced Persistent Threat (APT) Solution Provider of the Year” in the fifth annual CyberSecurity Breakthrough Awards. The stock was traded much higher in September at $41 per share. This means that even after Wednesday’s increase the stock is still 150% down from its highest price.

Disclaimer – I/we have no position in any stock mentioned. I wrote this article myself, and it expresses my personal opinions. I am not receiving any compensation for it, other than FDGT Academy. I do not have or had in the past any business relationship with any company that is mentioned in the above article.

Natalia C. - Junior Analyst at FDGT Academy

Natalia C. - Junior Analyst at FDGT Academy

I am a stock analyst/investor with prior experience and knowledge to BSc Accounting and Finance. After completing my degree and exposure to the accounting firms I decided that the direction I should choose is towards the Investment world. I completed my masters in Investment Management where it gave me solid fundamentals to build my career on. I have examined a lot of different aspects of investment, from REITS, derivatives, currencies, bonds, equity and hedge funds. I never stopped learning about the market which is why I can analyze and write articles for FDGT community always personally opinionated. My passion are green energy and electric vehicles stocks as a whole. I also had my share of analyzing the work form home stocks that are coming to take over in the upcoming years.

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